The ballot proposition to decrease interest rates on medical debt has won voter approval, according to unofficial election results from the Arizona Secretary of Stateβs office.
The measure passed with 72% of the vote.
Proposition 209 would reduce the maximum interest rates on medical debt from 10% to 3% annually. The measure would make certain assets exempt from debt collection, such as homes, household items, cars and bank accounts.
Proposition 209 would also allow courts to reduce the amount of disposable earnings collectors can garnish in cases of extreme economic hardship and would begin annually adjusting debt collection exemptions for inflation in 2024. It's one of two citizen initiatives placed on the ballot this year.Β
